Wall St reverses again, wiping out early gains in afternoon plunge - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Wall Street gyrated on Thursday, with a broad rally reversing by mid-afternoon and the S&P 500 flirting with correction confirmation as investors juggled positive economic news with mixed corporate earnings, and geopolitical unrest.

All three major US stock indexes have been whipsawed by uncertainty in recent sessions, marked by wide fluctuations and heightened volatility.

Among a spate of economic data released on Thursday, the Commerce Department’s advance take on fourth-quarter GDP shows the US economy in 2021 grew at its fastest pace in nearly four decades. Geopolitical tensions continue to simmer, as Russia continues to build up troops along the Ukrainian border and diplomats scramble to avoid conflict in the region.

Supply-chain challenges, the engine driving inflation through the recovery from the global health crisis, have been a recurring theme this earnings season.

 

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